A recent study by the Investment and Financial Services Association (IFSA) estimated that as many as 60% of all Australians are under-insured. That means that in the event of an accident or illness leading to death or permanent disability many families would not receive a payout large enough to cover even a year’s income.

Australian Bureau of Statistics (ABS) figures show that 4400 parents with dependant
children die each year.

The US Department of Housing & Urban Development found in 2005 that for every home lost through fire, 3 homes were lost following a death and a staggering 48 homes were lost due to disability. This is because the temporary or permanent loss of a breadwinner resulted in the inability to meet home loan commitments and the consequent forced sale of the family home. Considering these facts, as much as we all think “it can’t happen to us”, it’s clear that adequate insurance is an essential component of every business and every family’s financial plan. These are the areas where JV Partners* can help.

Family Protection
Life insurance is essential for most of us, particularly for people with spouse and children. Our advice will not only assist you in determining the amount of insurance required, but also the most appropriate type and combination. By tailoring such products as Disability, Trauma and Income Protection insurances, we can ensure you and your dependants do not suffer financial hardship and that you continue to receive an income – or a lump sum - in the event that you are incapacitated and unable to work.

Business Succession Planning
Have you thought about how you will pass on your business to capable hands when you’re ready to retire? What about the death or incapacity of a business owner or one of their key personnel? Massive financial, emotional and family problems can be created when the business is not separated from the estate. A business will or “buy/sell agreement” funded by insurance is vital to protect family and business partners alike. Working with your business advisers, we can prepare a proper business succession plan.

Small Business Planning
Almost all business owners and professionals have financial goals and/or a business plans which share one common and dangerous assumption… that everyone turns up on Monday morning. Sadly injury, accident, illness or death can destroy these plans. The risk specialists at JV Partners see themselves as project managers who put together insurance recommendations, along with the advice of legal and accounting specialists, to create a safety net for these busy people. We can help ease your burden of running a small business by advising you in areas such as superannuation and insurances. We work with your business advisers (such as accountants and lawyers) to ensure that all bases are covered.

Superannuation
Almost every working Australian has a superannuation account (and many have more than one) and most super funds offer the option to take out insurance cover. This can be an inexpensive and tax effective option. However, there are many traps for the unwary. At JV Partners we can establish a super fund with appropriate insurance for you, or review your existing fund(s) to determine if the attached insurance is adequate, efficient and tax effective.

Factors to Consider
Every person’s situation is different. Your financial situation may look the same as your colleagues or business partners but your needs are different. At JV Partners we analyse those needs and take into account all the quirks that make you and your situation unique.

The major factors you need to consider are:-

•  The lifestyle you want to provide for your family
•  Your non-working spouse who wouldn’t have an income if you died
•  Your working spouse who would “retire” to raise the children
•  How your business would cope with your absence
•  Any debts that need to be paid out
•  Children’s education expenses
•  Special needs such as a handicapped child or child who may never be
  self- supporting
•  Final expenses such as funeral costs and taxes
•  Divorced people need to consider child support, education and an
  inheritance for any children of a previous marriage.

Any advice on insurance and superannuation matters is provided by us in our capacity as authorised representatives of Financial Wisdom. Financial Wisdom is responsible for any advice provided by us while we are acting on their behalf.

The quality of advice and the range of services we offer require the backing and buying power of a national organisation. Financial Wisdom is the support network we partner with to provide those resources. The support and resources they offer us include:

•  Sophisticated planning tools to help develop more effective solutions for you
•  Access to current research that can identify new opportunities
•  Educational and professional development resources that support the
  quality of our advice.

The JV Financial Group aims to be your financial cornerstone as you build a safe, secure and prosperous future for yourself and your family. That desired future can be destroyed by illness, disability or death.
Having JV Partners as your risk manager can’t prevent those things happening but it can ensure that they are not financially devastating.

Important information
This information contains financial product advice of a general nature only and is not intended to constitute personal advice. It does not take into account your investment objectives, financial situation or needs and accordingly, you should consider the appropriateness of this information in light of your own circumstances. We recommend that you obtain professional advice.

Where appropriate, you will be provided with a Product Disclosure Statement in relation to the product you are recommended. You should consider this document before making any decision to acquire the product in question.